Refunds of $166 billion (about 244 trillion won) in tariffs collected by the Trump administration but ruled unlawful by the U.S. Supreme Court are set to begin on the 20th (local time), according to reports.
Through this system, called "CAPE," importers can receive refunds in an integrated manner regardless of the number of import entries, and when interest applies, it can be calculated and processed together.
According to documents U.S. Customs and Border Protection (CBP) submitted to the U.S. Court of International Trade (USCIT), as of the 9th of this month, 56,497 importers had completed applications to receive tariff refunds. Their refund amount totals about $127 billion (about 175 trillion won).
CBP said some applications require manual processing and it is devising how to handle them, adding that the amount involved is $2.9 billion (about 4 trillion won).
Earlier, customs authorities announced on the 10th that the refund system would start operating on the 20th, adding that it would be rolled out in stages.
The tariff refunds follow a Feb. 20 ruling this year by the U.S. Supreme Court that the Trump administration's imposition of the so-called "reciprocal tariff" based on the International Emergency Economic Powers Act (IEEPA) was unlawful, and about 330,000 importing companies are said to have paid the tariffs ruled unlawful.